Bank of New York Mellon Corp Sells 17,498 Shares of Westamerica Bancorporation (NASDAQ:WABC)

Bank of New York Mellon Corp reduced its stake in Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 6.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 247,633 shares of the financial services provider's stock after selling 17,498 shares during the period. Bank of New York Mellon Corp owned about 0.93% of Westamerica Bancorporation worth $12,991,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of WABC. Golden State Wealth Management LLC purchased a new position in Westamerica Bancorporation in the 4th quarter worth approximately $65,000. KBC Group NV increased its stake in Westamerica Bancorporation by 71.4% in the 4th quarter. KBC Group NV now owns 1,974 shares of the financial services provider's stock worth $104,000 after purchasing an additional 822 shares during the period. GAMMA Investing LLC increased its stake in Westamerica Bancorporation by 14.1% in the 4th quarter. GAMMA Investing LLC now owns 2,166 shares of the financial services provider's stock worth $114,000 after purchasing an additional 268 shares during the period. Glenmede Trust Co. NA purchased a new position in Westamerica Bancorporation in the 3rd quarter worth approximately $238,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in shares of Westamerica Bancorporation during the fourth quarter valued at approximately $245,000. 81.89% of the stock is owned by hedge funds and other institutional investors.

Westamerica Bancorporation Trading Up 2.1 %

Shares of WABC traded up $1.07 during mid-day trading on Friday, hitting $51.08. 69,331 shares of the company's stock traded hands, compared to its average volume of 111,549. The company has a quick ratio of 0.26, a current ratio of 0.27 and a debt-to-equity ratio of 0.15. Westamerica Bancorporation has a 1 year low of $45.11 and a 1 year high of $59.97. The firm has a market capitalization of $1.36 billion, a P/E ratio of 9.82 and a beta of 0.55. The business's 50-day moving average price is $50.88 and its 200-day moving average price is $52.01.

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Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last posted its earnings results on Thursday, January 16th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.19. Westamerica Bancorporation had a return on equity of 16.15% and a net margin of 44.55%. During the same quarter in the previous year, the firm earned $1.48 EPS. As a group, sell-side analysts forecast that Westamerica Bancorporation will post 4.35 EPS for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a dividend of $0.44 per share. The ex-dividend date was Monday, February 3rd. This represents a $1.76 annualized dividend and a dividend yield of 3.45%. Westamerica Bancorporation's dividend payout ratio is presently 33.85%.

Westamerica Bancorporation Profile

Westamerica Bancorporation operates as a bank holding company for the Westamerica Bank that provides various banking products and services to individual and commercial customers. The company accepts various deposit products, including retail savings and checking accounts, as well as certificates of deposit.